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GST @ 18 MONTHS

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 3-1-2019 - As we enter into 2019, we have surpassed 18 months of GST Raj in India since July 1, 2017 and soon be finishing up with first full financial year of 2018-19 under GST regime .....

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s had 31 meetings so far including 7 in 2018 itself, more than the average board meetings, an Indian company generally holds in a year. The 32nd meeting is scheduled for 10th January, 2019. The implementation of GST all along has been facing troubled .....

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e fragility of law and procedures can be gauged from the very fact that on one hand, adjudications in GST have barely commenced, and on the other hand, we have over 200 writs in various courts and similar number of advance rulings across the country. .....

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n imposed fines on officers. 2019 being an election year, we can expect some taxpayer friendly decisions and roll-backs in rates as well as simplification of procedures. New return filing mechanism is on the cards. The tax rates are now being rationa .....

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exempt and non-taxable supplies. This in many cases causes hardship and real beneficiaries for whom it is meant are not able to avail this exemptions. Thanks to the forthcoming elections. It is highly possible that GST Council and Government will ta .....

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h is in any case, desirable. Filing of multiple returns was flawed since inception and it ought to be corrected, sooner the better. Efforts should also be made for one nation, one tax a reality. This also requires one return . Further, State wise Adv .....

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s with turnover below ₹ 70 lakh 63.50 lakh Average GST collection (2017-18) ₹ 89885 crore GST Collection (in Rs. crore) 1,03,459 94,016 95,610 96,483 93,960 94,442 1,00,710 97,637 94,726 96,782 89,885 April May June July Aug. Sep. Oct. No .....

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is ₹ 94,726 crore. This comprises CGST (Central Goods and Services Tax) amounting to ₹ 16,442 crore while collection from SGST (State GST) was ₹ 22,459 crore and from IGST (Integrated GST) was ₹ 47,936 crore (including ₹ .....

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